On June 4, Johnson Controls rose 3.79% in regular trading, trading at $147.47/share, with trading volume of $265 million. The rally extends a multi-day advance fueled by a wave of Wall Street upgrades to the company's price targets.

UBS Securities raised its price target to $180 from $170, citing highly encouraging early results from the company's new business model focused on productivity improvement. UBS noted Johnson Controls is on track to grow revenue at a large facility from $250 million to $1 billion over two years without additional labor or capital. Goldman Sachs also lifted its target to $178 from $169, maintaining a buy rating. RBC Capital highlighted the company's upgraded long-term organic revenue growth outlook to high single digits, driven by accelerating data center demand expected to grow from 12% to roughly one-third of revenue within five years amid AI infrastructure expansion. RBC also noted improved financial targets including approximately 30% incremental margins and 95%-100% free cash flow conversion.

Within the Building Products sector, Carrier Global rose 3.33%, AAON Inc gained 3.12%, and Trane Technologies added 1.78%.

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